August 1, 2019 8:36 AM
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Nordzucker acquires majority stake of 70% in Australian sugar producer

BRUNSWICK. The Nordzucker AG has successfully completed the acquisition of a 70 percent majority stake in Mackay Sugar Limited (MSL), Australia's second largest sugar producer.

In February, Nordzucker concluded an agreement with Mackay Sugar Limited to acquire 70% of the company's share capital. Certain circumstances, however, delayed the closing of the transaction. At an Extraordinary General Meeting on 29th July, the shareholders, finally, approved the transaction with a clear majority.

Nordzucker CEO, Dr. Lars Gorissen states: "I am delighted that we have successfully completed the transaction. The negotiations with MSL and the talks with the owners were very constructive and trustful. I am confident that together we can lead the company into a successful future and that MSL will make a positive contribution to the Nordzucker Group's earnings in the medium term".

Entry into sugar cane to improve competitiveness

Nordzucker intends to invest in the three plants Marian, Farleigh and Racecourse, which are located in the immediate vicinity of Mackay. Nordzucker's goal is to improve sugar production in  the factories, which have an annual production capacity of approx. 700,000 metric tonnes.

Gorissen explains that, "thanks to the cost structures, cane sugar production is profitable even at lower sugar prices and the infrastructure in the Mackay region is optimal. In addition to the stable Australian sugar market, MSL gives us access to the world's largest growth market in Southeast Asia". In conclusion, he highlights that, "Nordzucker is clearly focusing on sugar - from beet and cane."

Press release Nordzucker AG

 

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Nordzucker CEO Dr Lars Gorissen
Der AUDITOR
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Nordzucker CEO Dr Lars Gorissen

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Harvest dates
Next harvest dates for Sugar beets
Country
Start of harvest
Turkey
8/1/20
Canada
9/1/20
USA
9/1/20
Italy
9/1/20
Poland
9/1/20
Ukraine
9/1/20
Russia
9/1/20
Germany
9/15/20
United Kingdom
9/20/20
France
10/1/20
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Crop sizes

Crop sizes for Sugar beets
Country
Year
Crop size
Russia
2018
42,066,000 mt
France
2018
39,914,030 mt
USA
2018
33,282,000 mt
Germany
2018
26,191,400 mt
Turkey
2018
17,436,100 mt
Poland
2018
14,300,000 mt
Ukraine
2018
13,480,000 mt
China
2018
12,077,618 mt
Egypt
2018
11,222,720 mt
United Kingdom
2018
7,620,000 mt
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